You Can Now Get 3 CD Deals For Over 5.6%

These CD accounts currently offer some of the highest rates on the market.

A hand putting money into a gold piggy bank
(Image credit: Getty Images)

Savings rates have been continuously increasing since March of last year, when the Fed began hiking interest rates to fight steep inflation. Since then, the Federal Reserve has raised interest rates 11 times, bringing the federal funds rate to a target range of 5.25% to 5.5%. And although this means higher commercial interest rates, there is a bright side. Rates on savings vehicles, like CDs and high yield savings accounts, are also exceptionally high.  

Three CD accounts in particular stand out, one from Newtek Bank, Forbright Bank and CFG Bank. With rates of over 5.6%, these CD deals are some of the best on the market and can potentially help you maximize your savings. Plus, all banks are FDIC-insured, helping you keep your savings safe

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.